There is NOT a word for word recitation of the ever expanding mostly made-up laundry list of disclaimers to start an earnings call. Note “there
Regulation can be viewed as the Full-Time Employment Act for Lawyers. Some things are complicated both in their nature and the way change can morph
The mind can wander. This is a big corporate bankruptcy, and you haven’t seen many of them, given the sheer tidal wave of dollars that
Process. Interesting. Re-read annually. Deleted half the lists and ideas in the “get to it later” email folder. Reading outside the obvious. Hacking the CSC
Thanks for Re-Tip from the Byrne at the Diff for something I have read periodically since 1983. Translation? The world’s a big place and you cannot
Murray Stahl has been referenced here before. Google away on him and Horizon Kinetics and sit down for some long reads. A great writer he
I lifted this from a recent Financial Times piece. What I will add for the intrepid reader is a longer time horizon. It is correct
If nothing else but by not being REALLY early. And it’s not fair to whomever they are to suggest that the letter lacks little detail
Yes, there are some people who think it is fun to read the 1977 to 1997 Berkshire Hathaway shareholder letters on the Beach. It is
This is a speech given in 1998 by Arthur Levitt, the SEC Commissioner. He obviously had a sense of the nature of man and money,
Sometimes you just don’t know people. Or what drives them. And so mistakes can be made when you try to equate what seems to add
In a nutshell, valuations matter. Good past performance tends to attract and avalanche of money which raises the valuation of said investment bucket which steals
Anyone who uses electrical components is a giant importer. This is a good look at what is happening on the border now. Not pretty. To
The trend is the idea that a Board of Directors should effectively pay greenmail to a departing Director in order for him/her to shut their mouths and go away.
And I don’t mean 124 word Tweets. Annual Reports, 10-K’s and Proxies are “basic” and one would think everyone reads them so where is the
From Research Affiliates: Small Caps, Big Opportunities: Investing Beyond Large-Cap Stocks By Que Nguyen, Xi Liu, and Mario Albuquerque In today’s market, the historically wide
I will admit to a man-crush on Fernando. This is on the money if I feel like expressing an opinion on the last week. Spoiler
A few hundred years ago, shortly after beginning Phase II of life as Cove Street Capital, I was “summoned” to a very large allocator organization, after 10 years of annual treks and pitches to zero avail.
At the 2018 Berkshire Annual Meeting, Buffett noted that “multiple times in my life, people have felt the country was more divided than ever….and after
“Buy these X stocks because Y will be elected.” Using the KBW Regional Banking Index (KRX), there was a 20% gain in Q4 2016 on
We have referenced Byrne Hobart’s The Diff newsletter any number of times as well worth reading. He thinks and writes as well as anything I
FTI Consulting August 2024 Newsletter Given the explosive growth of leveraged credit markets over the last decade, the ascendance of private credit, the extreme lengths
this makes CNBC and Bloomberg out to have the credibility of BBC reporting on Gaza.
I don’t know the Verdad people, but they tend to lean toward what we are thinking, so they are obviously smart and worldly people who
Even if one assumes this makes any sense, it will take a really long time to kill off the carbon transportation business.(Cars and Trucks) The
Alex Karp, CEO of Palantir on CNBC this week: “I love burning the short sellers. Almost nothing makes a human happier than taking the lines
Statement Dissenting from Approval of Proposed Rule Changes to List and Trade Spot Bitcoin Exchange-Traded Products
